News

USA: Cash cattle sales emerge on Friday

Frozen Bone-In Beef
Other Frozen Pork Cuts
Meat
United States
Market & Price Trends
Published Feb 24, 2024

Tridge summary

Chicago Mercantile Exchange live and feeder cattle futures saw a significant increase, supported by cash and wholesale business. The Cattle on Feed report listed 11.8 million head, slightly above February 2023, with placements in January down 7% from last year. Meanwhile, in South Dakota, alfalfa hay prices remained steady due to cost-cutting measures by dairy producers. Early weaned pigs and feeder pigs saw a price increase, while butcher hogs remained steady. Estimated cattle slaughter was down, while hog slaughter remained unchanged.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Chicago Mercantile Exchange live and feeder cattle futures were sharply higher, supported by cash and wholesale business ahead of the USDA’s Cattle on Feed report. Feeders had additional support from the lower move in corn. April live was up $1.35 at $187.90 and June was $1.17 higher at $183.87. March feeders were $2.52 higher at $254.57 and April was up $3.27 at $259.97. Business finally picked up on Friday in cash cattle country. Southern live cattle trade was at mostly $183, $3 higher than the previous week, while Northern dressed deals were at mostly $292, $4 higher than the prior week’s weighted averages. The just released February 1 Cattle on Feed report listed 11.8 million head, slightly above February 2023. Placements in January totaled 1.79 million head, 7% below last year. At the Mobridge Livestock Exchange in South Dakota, feeder steers above 650 pounds trended $2 to $4 higher compared to the most recent sale. Feeder heifers 550 pounds and up were $1 to $4 higher. USDA ...
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